Dante Devine
First Flip, Need Advice
Goodmorning Fam,
Ill keep this short. I have a really good friend that needed help with a house she owned in Houston, (she lives in Dallas). Her tenants were moving out and she couldn't afford to pay the mort...
Justin C.
My closing costs seem waaaay too high, thoughts?
Hi guys,I'm closing on my first property this Friday and just received the closing costs form. Purchase price $17500 in cash- $105 Title search- $100 city engineer fee- $500 attorney fee- $125 agreement papers- $75...
Nick Am
Setting up a management S-corp for managing rental property owned by an LLC
I own a rental property through a single member LLC (say LLC-A) and I am in process of purchasing another property under the same LLC-A. Currently, I am self managing all the operations. LLC-A is a disregarded entity ...
Felipe Ocampo
New to 1031 Exchange
I am currently selling a rental property(just signed the offer) that I have had for about 6 years and just realized that the capital gains will probably be pretty steep so I may want to do a 1031 exchange. I originall...
Joseph Hernandez
Blind HUD-1 Using a mortgage loan
Helly everyone. In California, can a wholesaler use a blind HUD-1 with the end buyer utilizing a mortgage loan? If not, how can I prevent the buyer from seeing my wholesale fee ( I don't want to do a double close). Th...
Kenny McCarty
VRBO Accounting: Incompetent or sleezy?
Just in case you aren't aware, we are being charged a 3% processing fee on the taxes that are collected from VRBO's traveler service fee. This has been happening for years. I have been on the phone many times with s...
Jerry Kisasonak
Transfer taxes on contract assignments?
I recently had someone tell me that you have to pay transfer taxes when you assign a contract. Is this true?
I've done contract assignments and have never paid any transfer tax. In my mind, there is no transfer of o...
Steve S.
Tax question on rental income
I'm trying to get a better understanding of how much of my rental profit I may be able to keep. If my AGI is $150,000 and my rental profit is $24,000 for the year, after paying the PITI and expenses, in a rough estim...
Arnold Finkelstein
Probate Judge Asking for "Deed Tax"
In seeking to record a Perry County tax certificate, the Probate Judge there has told me I must pay a "deed tax" in addition to property taxes. I have never heard of a "deed tax," nor has any other county in which I ...
Jamal Stroman
Long distance analysis
Hello all,I've heard it said that a beginning investor should analyze 3 deals per day even if he isn't buying presently. I started to do just that and I quickly found that analyzing 3 deals per day is giving me fits. ...